Bernie Sanders Announcing 'Revolutionary' Proposal to Erase $1.6T Student Loan Debt

Democratic presidential candidate Sen. Bernie Sanders (VT) is announcing a policy proposal that aims to cancel all $1.6 trillion of American student loan debt.

The socialist candidate's proposal calls for hiking taxes to pay off all college debt, including private and graduate school debt, as part of an initiative to make college free in the United States.

Sanders says the government will pay for this massive debt by taxing Wall Street transactions. He hopes to raise more than $2 trillion in 10 years. However, according to The Washington...